1976-01 CRA - Laserfiche WebLink

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. . . "'.n' . SEC. 702. Termination by Redeveloper Prior to Conveyance. In the event that (a) the Agency does not tender conveyance of the Property, or possession thereof, in the manner and condition, and by the date, provided in the Agreement, and any such failure shall not be cured within thirty (30) days after the date of written demand by the Redeveloperl or (b) the Redeveloper shall, after preparation of Con- struction Plans satisfactory to the Agency, furnish evidence satisfactory to the Agency that it has been unable, after and despite diligent effort for a period of sixty (60) days after . approval by the Agency of the Construction Plans, , to obtain mortgage financing for the construdi:.:i-~I1:::. , of the Improvements on a basis and .on terms"that: "',' would generally be considered satisfactory by builders or contractors for improvements of the nature and type provided in such Construction Plans, and the Redeveloper shall, after having submitted such evidence and if so requested by the Agency, continue to make diligent efforts . " to obtain such financing for a period of sixty (60) days after such request, but without success, then the Agreement shall, at the option of the Redeveloper, be terminated by written notice thereof to the Agency and the Authority, and, except with respect to the return of the Deposit as provided in Paragraph (e), Section 3 of Part I hereof, neither the A~ency, the Authority nor the Redeveloper shall have any further rights against or 1ia- bilityto each other under t~e Agreement. (h) SEC. 703. This Section is hereby deleted in its entire- ty and a new Section 703 inserted as follows: SEC. 703. Termination by Agency Prior to Conveyance. In the event that '. .".,. " . ,"']f-- , ..... ..... ;: ,...' " ". ;" ...... , ~, :. - 24 -